Robots set to create over 100 million jobs by 2022

Machines now perform 29% of workplace tasks and this is expected to increase to 42% by 2022, meaning an average reduction in task hours of 13% from 71% to 58% for humans.

Global labour markets are undergoing major transformations with the rapidly shifting frontier between the work tasks performed by humans and those performed by machines and algorithms.

So it'll be farewell to jobs such as office administrator and driver, and hello to new roles such as drone piloting and remote patient health monitoring. By 2022, this average is expected to shift to 58 per cent task hours performed by humans, 42 per cent by machines.

On the other hand, jobs that require "human skills" such as sales, marketing, customer service, e-commerce, and social media will see demand for workers increase, the Business Standard reports.

However, Klaus Schwab, chairman of the WEF, did warn that employment gains from technology were not a "foregone conclusion" and called for more training and education to help workers adapt.

It is estimated that by 2022, 54% of all workers will need substantial retraining (lasting at least six months) to acquire additional technological and other skills. "Our research suggests that neither businesses nor governments have fully grasped the size of this key challenge of the Fourth Industrial Revolution".

Researchers working on "The Future of Jobs 2018" report surveyed executives from different industries around the world, aiming to get a look at how new technologies, like artificial intelligence, will affect the global labor force. So that doesn't mean companies expect to have fewer jobs.

"If this is to be the case, we hope that companies are putting plans into place sooner rather than later for their human members of staff, ensuring they're not going to be without work and money, before implementing these technical replacements".

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